Rock Bottom Stocks For The Win
Current YTD Performance: -$1538
The Dow Jones gained over 150 points today based on additional decline in the oil price topped with stronger U.S. Dollars. On top of that, Alcoa (AA), kicking off the start of Q2 earning reports this month topped the analyst expectations after close today. AWESOME NEWS! I’m pretty confident that the stocks will rally once again tomorrow at least for a short while.
As I look at the damaged market, I have been researching some stocks that could potentially be a big time bargain buy if you aim for a long-term gain:
*Circuit City (CC) recently hit its 52wk low at $2.10 per share. Its 52wk high was $15.29 per share. Though the company stock price suffered after Blockbuster announced its withdrawal of acquisition plan, the company is still not nearing bankruptcy per some analysts. This stock was once at $30 per share back in 2006, and from what I read, it could well bounce back before people start to really worry about potential bankruptcy.
*Citigroup (C) with its recent 52wk low of $15.80 per share, the stock is bound to rebound in the next few years due to its corporate cash strength. This stock has been featured in various articles stating its long term investing value. The stock rallied by 5% today to $17.25 per share, and we should all keep in mind that this stock was over $50 per share less than a year ago. The stock WILL bounce back. The question is when?
*Wachovia (WB) - A fourth largest bank in the U.S. with a 5 star Morningstar.com rating shall prove to be a worthwhile investment. With its 52wk ranging from $13.38 per share to $53.10 per share, Wachovia is going through some massive changes to get its course back on track. The board recently ousted its CEO Ken Thompson along with the recent announcement to cut jobs in its investment banking sector. One article mentioned that Wachovia will either be acquired or it will have to It will be matter of time (a year…maybe two) before the stock bounces back.
I’m playing a bit safe this time by waiting for more Q2 results to come out before I invest additional cash into these stocks. BUT you can bet that I will be investing in these stocks in the near future.
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Pretty good day for me even though I’m not happy about the continuing decline of SOHU stocks. As I hoped, the IPO stock ERII went up by almost a $1.00 with its mid-day trading up all the way at +$2.00 per share. I’m already up $550 in value since the inception last Wednesday. I love it! All I need now is SOHU to come back up along with everything else…
